Haque: UAE Corp. Tax is Natural Step in Fiscal Reform

The video discusses the UAE's introduction of a corporate tax as part of its fiscal reform to diversify away from oil dependency. The tax rate is set at 9%, targeting larger businesses, with a potential increase to align with the G20's 15% minimum. Inflation in the UAE is relatively low due to government measures and a strong dollar, though food prices are rising. High oil prices benefit GCC budgets but increase consumer costs. The region aims to focus on strategic investments and reduce reliance on oil revenues.

How might higher oil prices affect consumers in the UAE?

What role do government spending plans play in the economic strategy of the UAE?

In what ways is the UAE government attempting to diversify its economy away from oil revenues?